WARREN - Recognizing the need for financial literacy beyond the school year, Cortland Banks and the Trumbull County YMCA, have joined forces to create the Strong Saver program that consists of six Financial Literacy Events (2 per month) during the camp that spans 12 weeks. The program promotes financial literacy to children in grades K-8, in addition to high school-aged students.

“The partnership between the Cortland Banks and the Trumbull County YMCA has been a great addition to our organization. This partnership has resulted in our summer youth program having the availability of a quality financial literacy program for our youth. The program is age appropriate and gives our youth valuable information they can use to be financially responsible now and into the future,” said Rich Denamen, Interim Director of the Trumbull County YMCA.

As part of the ABA Education Foundation’s Teach Children to Save program, Cortland Banks’ Danielle Cantrell, Michele Lee and Kristin Woods will talk with the Trumbull County YMCA Kids Club campers about the importance of saving on Friday, July 26, this will be the fourth visit to the YMCA this summer.

With one in four children assuming that they are too young to save according to a Charles Schwab survey, financial education is not just nice-to-know information — it’s a need-to-know. Events like Friday’s are our chance to fill the financial education gap for the Trumbull County YMCA Kids Club campers.

“The financial literacy program is a great success. Our students are engaging in conversations that I have not heard in the past. To hear our students talk about saving and bank accounts, and not making as many purchases from the snack machine has been awesome to witness. I truly thank Cortland Banks for allowing us to take part in the services that they are providing for the youth of our community,” said Paulette Edington, Programs Director for the Trumbull County YMCA.

During each visit, the Cortland Banks Team visits the Trumbull County YMCA and presents lessons to campers in five groups. Each group is taught an interactive lesson based on their grade level.
As a local community bank, Cortland Banks strives to enhance the communities in which it serves and offers the following tips for money-savvy parents raising money-smart kids:

1. Set the example of a responsible money manager by paying bills on time, being a conscientious spender and an active saver. Children tend to emulate their parents’ personal finance habits.

2. Talk openly about money with your kids. Communicate your values and experiences with money. Encourage them to ask you questions, and be prepared to answer them – even the tough ones.

3. Explain the difference between needs and wants, the value of saving and budgeting and the consequences of not doing so.

4. Open a savings account at your local bank for your children and take them with you to make deposits, so they can learn how to be hands-on in their money management.

5. Give your kids positive feedback. As they get older, give them responsibility over how they spend their money.

This event is part of the ABA Education Foundation’s Teach Children to Save Program. Teach Children to Save is a national campaign of volunteer bankers who since 1997 have helped young people develop lifelong savings habits.